Denali Advisors LLC Sells 19,260 Shares of Global Industrial Company $GIC

Denali Advisors LLC trimmed its stake in Global Industrial Company (NYSE:GIC) by 11.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,518 shares of the company’s stock after selling 19,260 shares during the period. Denali Advisors LLC’s holdings in Global Industrial were worth $5,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. KLP Kapitalforvaltning AS grew its stake in shares of Global Industrial by 62.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,500 shares of the company’s stock valued at $500,000 after acquiring an additional 7,100 shares during the period. Los Angeles Capital Management LLC purchased a new position in Global Industrial during the second quarter valued at approximately $931,000. Y Intercept Hong Kong Ltd boosted its position in shares of Global Industrial by 340.6% in the second quarter. Y Intercept Hong Kong Ltd now owns 77,441 shares of the company’s stock worth $2,092,000 after purchasing an additional 59,864 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Global Industrial by 114.3% in the third quarter. Teacher Retirement System of Texas now owns 29,864 shares of the company’s stock worth $1,095,000 after purchasing an additional 15,926 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Global Industrial by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 308,639 shares of the company’s stock valued at $8,336,000 after purchasing an additional 2,083 shares during the period. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Industrial Stock Up 1.0%

GIC opened at $32.29 on Monday. The company has a market capitalization of $1.24 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. The firm has a 50-day simple moving average of $30.64 and a two-hundred day simple moving average of $32.41. Global Industrial Company has a 52 week low of $20.79 and a 52 week high of $38.79.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a research note on Thursday, January 22nd. Finally, Zacks Research raised Global Industrial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

About Global Industrial

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.